November 3rd, 2020 Mortgage Industry Update
The Bank of Canada announced on October 28th that its overnight lending rate will remain at 0.25%. The prime rate remains 2.45%. The Bank of Canada suggests that they will more than likely keep rates at this "effective lower bound" until 2023, as they observe the full effects of the pandemic.
Additionally this week:– TRREB: Toronto condo rentals are up 30.2% in Q3 from 2019. There were 14,036 leases, up from 10,781 in 2019. Total of 34,971 ...
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